XAU/USD) Bullish trand Read The caption

SMC trading point update



Technical analysis of Gold (XAU/USD) on the 1-hour timeframe, highlighting a breakout from consolidation supported by key levels and trend structure. Here’s the detailed analysis:


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Technical Breakdown

1. Key Support Zone

Price has formed a strong base around 3,315–3,325, with multiple bullish rejections (green arrows).

This zone has acted as a demand level, reinforcing bullish structure.


2. Ascending Trendline Support

An uptrend line supports higher lows, showing momentum building to the upside.


3. EMA 200

Price is now challenging the 200 EMA (3,353.41) — a key dynamic resistance.

A successful breakout and retest above this EMA will likely fuel continued bullish movement.


4. Breakout & Measured Move Projections

The chart indicates a bullish breakout from a consolidation box (yellow zone).

Measured move targets based on the previous rally:

First target: 3,368.86 (1.17%)

Second target: 3,381.55 (1.75%)



5. RSI Confirmation

RSI (14) is around 57, showing bullish momentum but still below overbought—supporting further upside potential.




Mr SMC Trading point
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Conclusion / Idea Summary

Bias: Bullish

Entry Zone: On pullback into 3,330–3,340 range or breakout retest above EMA 200

Targets:

3,368.86

3,381.55


Invalidation: Sustained close below 3,320 and break of the uptrend line



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